A 1962 Ferrari 250 GTO is asking a record auction reserve of US$45 million (A$61m) in Blenheim, Ontario in Canada.
The GTO is one of only 36 cars, referred to as the “holy grail” of collectable classic Ferraris.
The V12 engined Ferrari 250 GTO goes on sale at the Pebble Beach Concours d’Elegance in Monterey, California, from August 24-25, through auction giant RM Sotheby’s.
The GTO is chassis number 3413GT, and was a test car driven by American Formula One champion Phill Hill in the 1962 Targa Florio road race, before winning nine out of 10 Italian National GT races with its first official owner.
The car’s next owner was jeweller Gianni Bulgari, who ran the world-famous Bulgari jewellery company until the 1980s, and was abducted in 1975.
Bulgari took the GTO to class wins in Targa Florio in 1963 and 1964, where the Ferrari never suffered any damage, and finished all 20 races.
The GTO has its original engine, gearbox and rear axle beneath its completely factory-original ‘series II’ body, designed by famous Italian auto designer Carrozzeria Scaglietti in 1964.
Other notable owners who have cherished the rare thoroughbred include former Microsoft chief software architect Greg Whitten in 2000, who subsequently entered the GTO in global vintage car events including four Ferrari GTO-only anniversary events.
RM Sotheby’s car specialist Shelby Myres says such a mystical, rare and immensely valuable car like the 250 GTO has only seen an auction a few times in recent history.
“This marks just the third time that a GTO has been offered for public sale in the new millennium,” he explains.
A 250 GTO sold at auction in 2014 for US$38m (A$51m).
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